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Role Purpose:

To be the team leader looking after the valuation of the Recurring Premium Savings products within the Retail Corporate Actuarial. The main outputs include IFRS earnings, EV earnings, SAM earnings as well as the SCR and other regulatory calculations. It is expected that the successful candidate will be actively involved in the production and analysis of results. 

The role will further include model and process developments between valuation periods. Interaction with other business units will be required. The role will report to the head of the Investments and Savings team within Corporate Actuarial. 

The successful candidate will also be expected to maintain a positive working relationship with the business responsible for these products and stay actively involved in any planned developments on the product.

Requirements:

An actuarial degree or equivalent required.

Required to have at least completed all CT exams and CA1.
Good progress with ST exams preferred.
Extensive knowledge in Prophet (or similar valuation software) as well as SQL is required.
Previous experience on recurring savings type products would be an advantage

Minimum Experience:

2 – 3 years of experience in as a Senior Actuarial role required.
1 year management experience (preferred).
3 years’ experience in financial/insurance industry (preferred).
At least 2 years relevant experience within life valuations.

Duties and Responsibilities:

Internal Process: Valuation model development as well as process improvements.

Responsible for the ongoing monitoring of the actuarial valuation parameters and once a year make proposals for updates to these.

Managing team members as well as individual team members output required.

Engagement with business units to implement product upgrades as well as other requirements.
Add-hoc engagement with external auditors as and when required.

Ensure soundness of both liability calculations and embedded value calculations for the products allocated to the sub-team by reviewing results and ensuring that parameters used are accurate and validated

Resolve valuation issues with support from business as required

Assume a product owner role for products allocated to ensure results are reasonable from a “statutory actuary” perspective

Continuously identify and implement process improvement in the valuation team

Support the Client Solutions team in providing financial insights to proposed product developments, product changes and re-pricing

Support client value enhancement initiatives through quantifying the expected financial impact of potential solutions

Deliver financial results and insights including drivers of results and potential implications

Provide insights to business on various financial scenarios and financial implications

Client Services:

Provide expertise and advice to clients and stakeholders
Build and maintain relationships internal and external stakeholders
Contribute to the process of negotiating objective and realistic service level agreements, monitor appropriateness and recommend adjustments

Define service practices which builds rewarding relationships, encourages innovation and allows others to provide exceptional client service.

Deliver on service level agreements made with clients and internal and external stakeholders in order to ensure that client expectations are managed

Make recommendations to improve client service and fair treatment of clients within area of responsibility.

Participate and contribute to a culture which builds rewarding relationships, facilitates feedback and provides exceptional client service.

Effectively Lead Team (People):

Create a positive work climate and culture to energise employees, give meaning to work, minimise work disruption and maximise employee productivity.

Demonstrate exemplary leadership behaviour, through personal involvement, commitment and dedication in support of organisational values.

Drive a culture that guides and directs best practice, fostering an environment of continuous learning, improvement and cohesiveness.

Enable a learning and growth culture whereby information regarding successes, issues, trends and ideas are actively shared between team members.

Execute effective workforce planning practices to ensure that staffing requirements are accurately forecasted

Identify employee growth and development needs and schedule interventions to enable ongoing development, training and personal growth.

Effectively manage performance within the team in order to ensure business objectives are achieved
Encourage innovation, change agility and collaboration within the team

Finance:

Implement risk management, governance and compliance policies in own practice area, to identify and manage
governance and risk exposure liability.
Investigate reported wilful acts of non-compliance to organisation policy and practice and report on findings.

Competencies

Business Acumen
Client/ Stakeholder Commitment
Drive for Results
Leads Change and Innovation
Motivating and Inspiring Team
Collaboration
Impact and Influence
Self-Awareness and Insight
Diversity and Inclusiveness
Growing Talent